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OTHER INCOME
9 Months Ended
Sep. 30, 2023
OTHER INCOME  
OTHER INCOME

NOTE 13 – OTHER INCOME

Settlement of Litigation

During the nine months ended September 30, 2022, the Company received $5,388,000 in connection with the settlement of a lawsuit which was recognized as Income on settlement of litigation on the consolidated statement of income.

Insurance Recovery on Hurricane Casualty

During the nine months ended September 30, 2022, the Company recognized a gain on insurance recovery of $918,000, which is included in Other income on the consolidated statement of income, related to hurricane damage to one of its properties in 2020. No such gain was recognized during the three and nine months ended September 30, 2023.